drieuxster (drieuxster) wrote,

Krugman Admits To Hating TEh Guacamole

I have a bit of personal history here — and it has some bearing on broader economic policy issues right now. Back in 1998, in the midst of the Asian financial crisis, I came out in favor of temporary capital controls; a bit about that here. At the time it was regarded as a horribly unorthodox and irresponsible suggestion — and I had a long, very unpleasant phone conversation with a Senior Administration Official who berated me for my anti-market ideas.

Today, that wild and crazy idea is so orthodox it’s part of standard IMF policy.

There are obvious parallels with the current debate over bank nationalization.

[ cf Capital control memories ]
So remember boys and NonPerkin:
Advocate Capital Controls!
And the Terrorists WIN!
Tags: republican_pron

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